Apr. 12 at 10:02 PM
Smaller cap (under
$1B) commercial-stage biopharma M&A exit valuations as multiples of mgmt/BOD prepared revenue & gross margin forecasts.
It's our experience comm'l-stage bios projected to do
$1B in sales/year are acquired for 0.30 to 0.40X 10 year revenue forecasts. Generally speaking, and not all of the time but generally speaking, the larger the revenue forecast the higher the multiples.
Comm'l-stage bios in this peer group are acquired for 0.15 to 0.25X 10 year revenue projections.
Investors in the comm'l-stage bios below have revenue & gross margin forecasts consistent with those in this peer group (on the attachment)
$ZVRA
$TBPH
$AQST
$VALN
$HRTX
This is not investment advice. We're merely sharing our analysis.
